Everyone from clergy members to bank customers are getting into the Smart Consumerism Movement. This movement is getting legs—and they are walking away from Big Business that does not treat people and the planet with care and respect.
I love the recent story in the New York Times about Rev. Ryan Bell in Southern California. For Lent, he committed his congregation to withdraw several hundred thousand dollars from its account with Bank of America. Across the country, dozens of other clergy members and congregations have done the same over the past three years. The movement has grown to 25 congregations, according to PICO National network, a coalition of congregations involved in social justice.
Reminds me of my first awareness of the involvement of faith communities in corporate business–the Interfaith Center on Corporate Responsibility, which has been around for over 40 years. Its coalition of active shareholders help shape corporate policy on a host of environmental, social and economic justice concerns through shareholder resolutions for nearly 300 organizations with collective assets totaling over $100 billion. This year they are addressing disclosure of lobbying expenditures by AT &T, Chevron, GE, JP Morgan Chase and 26 other major US corporations.
Large banks today tend to be public companies with stockholders spread all over the globe. The short-term interests of these shareholders are rarely attuned to the well-being of the communities where banks operate. To protest the behavior of big banks, thousands of people took part in Bank Transfer Day , a social media campaign, helping to double the accounts in credit unions in 2011. YES! Magazine http://www.yesmagazine.org/new-economy/a-field-guide-to-closing-your-bank-account.
Another financial avenue for smart consumers is state owned banks. Some states may be in financial trouble but not North Dakota, which has consistently boasted large surpluses aided by a state-owned bank that is showing landmark profits. For 2010 the Bank of North Dakota (BND) reported profits of $62million, setting a record for the 7th straight year. The BND’s profits belong to the citizens and are produced without taxation. BND partners with local banks in providing much-needed credit for local businesses and homeowners. It also helps with local government funding needs.
Inspired by North Dakota’s example, seventeen states have now introduced bills to form state-owned banks or to study their feasibility. Eight of these bills have been introduced just since January, including in Oregon, Washington State, Massachusetts, Arizona, Maryland, New Mexico, Maine and California. http://publicbankinginstitute.org/state-info.htm
The Smart Consumerism Movement can make a powerful difference for the Greater Good not only through buying local or fair trade and frequenting businesses that respect the wellbeing of people and the planet but also in the financial and corporate world through personal investments and shareholder actions. And ain’t it grand!
For ideas on hosting an Operation Bon Appetit Dinner Party that covers this topic, visit Smart Consumerism Dinner Theme in World Factbook on Convivialiaty.
RECIPES
It may seem to some folks that eating a luxury food might not exactly fit into the Smart Consumerism Movement. But, who says that being smart means not being self-indulgent on occasion—certainly, not I.
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This was really interesting! I didn’t know about state-run banks or that some churches were actually using their religious rituals in the service of helping people in the real world. I wish there was more of this kind of information in the newspapers and news services, both online and in print. Thanks for providing it.